SSR Mining Inc. (NASDAQ:SSRM) Short Interest Update

SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 5,230,000 shares, a growth of 30.4% from the March 31st total of 4,010,000 shares. Approximately 2.6% of the company’s stock are sold short. Based on an average trading volume of 5,320,000 shares, the short-interest ratio is presently 1.0 days.

SSR Mining Stock Down 4.8 %

Shares of NASDAQ SSRM traded down $0.27 during trading on Tuesday, hitting $5.36. The stock had a trading volume of 6,062,553 shares, compared to its average volume of 4,735,276. SSR Mining has a 12 month low of $3.76 and a 12 month high of $17.72. The company has a debt-to-equity ratio of 0.07, a current ratio of 7.01 and a quick ratio of 3.99. The company has a market capitalization of $1.08 billion, a PE ratio of -10.51, a PEG ratio of 1.72 and a beta of 0.82. The firm has a fifty day moving average of $4.66 and a two-hundred day moving average of $8.64.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last posted its earnings results on Tuesday, February 27th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.23. SSR Mining had a negative net margin of 6.87% and a positive return on equity of 6.27%. The firm had revenue of $425.90 million during the quarter. During the same quarter in the previous year, the company earned $0.12 EPS. As a group, equities research analysts forecast that SSR Mining will post 0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On SSR Mining

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its position in SSR Mining by 178.5% during the first quarter. CWM LLC now owns 6,126 shares of the basic materials company’s stock valued at $27,000 after buying an additional 3,926 shares during the period. Creekmur Asset Management LLC bought a new position in SSR Mining during the fourth quarter worth about $40,000. Simplicity Wealth LLC bought a new position in SSR Mining during the first quarter worth about $72,000. Wedmont Private Capital bought a new position in SSR Mining during the first quarter worth about $81,000. Finally, International Assets Investment Management LLC bought a new position in SSR Mining during the fourth quarter worth about $111,000. Institutional investors own 68.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SSRM has been the topic of a number of research reports. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of SSR Mining in a research report on Monday, April 8th. Royal Bank of Canada reiterated an “underperform” rating and set a $3.00 target price (down previously from $6.00) on shares of SSR Mining in a research report on Tuesday, February 20th. CIBC downgraded shares of SSR Mining from a “sector outperform” rating to a “neutral” rating and dropped their target price for the company from $18.50 to $6.00 in a research report on Wednesday, February 14th. Scotiabank downgraded shares of SSR Mining from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, February 14th. Finally, UBS Group downgraded shares of SSR Mining from a “buy” rating to a “neutral” rating and dropped their target price for the company from $17.00 to $5.00 in a research report on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.63.

About SSR Mining

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.